Fortunately for Nordstrom investors, it appears the stock had priced in a much steeper guidance cut given Thursday's relief rally
. Even after the big gain, Nordstrom shares are still down more than 50% overall in the past year.
Going forward market gurus reckoned that any positive outcome (ie Pakistan manages to avoid blacklisting) from the ongoing FATF's plenary session could extend the relief rally
witnessed in the last two trading sessions.
The relief rally
on easing U.S.-Mexico tensions flagged out, while even the prospect for fresh stimulus in China failed to sustain Chinese stock markets.
Stock markets on both sides of the Atlantic charged higher on Wednesday after the US midterm elections produced no major surprises, triggering a relief rally
There was also relief rally
across all global indices, the market closed at 37,647.34.
"We do feel like these things will get resolved and when they do, there will be a huge relief rally
and a little upward pressure off the dollar," which he said will benefit emerging markets.
This weeks' relief rally
post much-needed policy action is well grounded.
LAHORE -- Experts believe the relief rally
is to be fizzled out gradually over the upcoming week following the shift of focus on key economic challenges taking the centre stage.
A clear majority for any party can result in a relief rally
towards the end of the week,' Jafar added.
Nevertheless, equity markets are likely to experience a relief rally
in the third quarter amid rising interest rates.
Stock market investors may see a continued relief rally
this week as second quarter local corporate results start trickling in.
Neel Gopalakrishnan, credit strategist at DBS Bank (D05.SI), said, 'While there could be a brief election-results-driven relief rally
, we would expect Turkish assets to remain under pressure unless policy measures address the country's high inflation and external dependence.